A licensee may not buy back or obligate itself to buy back a share of equity interest from a shareholder without the prior approval of the department.
Article 3. Transaction of Business.
AS 10.13.160
Share buy-back
Known as the Alaska BIDCO Act
The act spans §§ 10–10 (85 sections).
Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.